Net sales reached $585 million, down $45 million from the second quarter in 2016.
B. Christopher DiSantis, Verso chief executive, said in a release Wednesday that the company expects to cut costs while seeing price increases that began this summer.
RELATED: Verso to shut down part of mill, cutting capacity
“We’ve made substantial progress in evaluating Verso’s long-term strategic options, which potentially include paper machine conversions to enable expansion or entry into growing markets, enhancements to current assets that support a more profitable product mix, and corporate development opportunities,” DiSantis said.
Verso in 2015 bought larger industry competitor — and former Miami-Twp.-headquartered — NewPage before moving its headquarters offices to former NewPage offices on Gander Creek Drive.
Restructuring costs for the quarter were primarily tied to the move of the headquarters and the closure of a mill in Wickliffe, Ky.
In guidance, the company said it expected sales of $625 to $640 million in the third quarter.
Verso also said it has directed its financial advisor, Houlihan Lokey Capital Inc., to help the company in “exploring strategic potential transaction alternatives that may enhance stockholder value.
“No decision has been made to enter into any transaction at this time,” Verso added.
Verso has about 200 Dayton-area employees.
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